The housing recovery is leaving out most of America

By Patrick Clark, Bloomberg

June 18, 2017

Photo: Associated Press File Photo

A real estate agent walks into a bank owned home she is showing to clients in Stockton, Calif. A report published Friday by Harvard University’s Joint Center For Housing Studies found that the number of Americans spending 50 percent of their income on rent is near historic highs.

A real estate agent walks into a bank owned home she is showing to...

For further evidence of the uneven recovery among U.S. housing markets, how’s this? In the 10 most expensive U.S. metropolitan areas, median home values have increased by 63 percent since 2000, after adjusting for inflation. In the 10 cheapest metros, median values rose by just 3.6 percent.

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